El Paso leads Texas with percentage increase in sales, but prices are terrible

February 2, 2010

Sales in December 2009 are up 22 percent from 363 to 444 in El Paso.  This market is remarkable as they are even up 23 percent from 2007’s 362 sales.  El Paso is the only big market in Texas to show this type of growth.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617
2009 Nov 570 0.57 0.47 147,800 -0.05 131,900 -0.01 3,549 -0.26 6.226
2009 Dec 444 0.22 0.23 154,200 -0.04 135,000 -0.01 - -1 0
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices, on the other hand, continue to lag suggesting there are a lot of sales in the low end of the market.  The average home sale’s price was $154,200 in December 2009, which is a 4 percent drop from $159,900 in December 2008.  Additionally, it is the eighth month in a row with a negative yearly change.  The median home price was 1 percent lower than its 2008 counterpart dropping to $135,000 from $136,300.  It is also the eighth month with a decline.

El Paso distribution shifts toward low and moderately priced homes

December 5, 2009

El Paso continues to show a shift toward moderate and low priced homes.  Recently released data, running through October 2009, suggest end of year trends will reveal vast increases in low priced homes and healthy increases in middle priced homes, see table.

El Paso
Price Range Percent Distribution # of Sales
2008 2009* 2008 2009* Change
$29,999 or less 0.1 0.3 5 13 173.62%
30,000 - 39,999 0.3 0.4 14 17 21.61%
40,000 - 49,999 0.6 0.5 29 22 -23.99%
50,000 - 59,999 1.2 1.4 57 61 6.41%
60,000 - 69,999 1.7 2.4 81 105 28.76%
70,000 - 79,999 4.1 4.2 196 183 -6.57%
80,000 - 89,999 6.8 5.9 325 257 -20.87%
90,000 - 99,999 8.1 7.6 387 331 -14.42%
Under 100k 22.9 22.7 1,094 989 -9.59%
100k - 119,999 15.8 18 755 784 3.91%
120k - 139,999 15.5 16.7 740 727 -1.73%
140k - 159,999 10.3 11 492 479 -2.60%
100k - 160k 41.6 45.7 1,987 1,991 0.20%
160k - 179,999 8.8 7.7 420 335 -20.19%
180k - 199,999 5.7 5.5 272 240 -11.99%
200k - 249,999 9 9.1 430 396 -7.78%
250k - 299,999 5.1 4.2 244 183 -24.89%
300k - 399,999 4.3 3.1 205 135 -34.25%
400k - 499,999 1.4 1 67 44 -34.85%
500k and more 1.2 1.1 57 48 -16.39%

Almost every category under $80,000 shows an increase in marketshare over 2008.  With only 10 months of data, there is already a dramatic increase in the number of homes sold under $40,000 and between $60,000 and $70,000.  There is also a minimal increase in numbers between $50,000 and $60,000.

The other area of increase is middle priced homes.  The homes between $100,000 and $159,000 increased their marketshare over 2008, with homes between $100,000 to $120,000 already exceeded the numbers posted last year.

El Paso’s October is bright spot for state

December 1, 2009

El Paso’s home sale gains continue to exceed the other large markets in Texas.  There were 541 homes sold in October 2009, which is the highest number since August 2007.  Not only that, but they were 31 percent higher than October 2008 and 23 percent higher than 2007, as seen below.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
2009 Sep 485 0.08 0.19 151,200 -0.05 130,000 -0.03 3,610 -0.29 7.443
2009 Oct 541 0.31 0.23 149,200 -0.06 131,000 0 3,580 -0.29 6.617

Average and median prices are not making the strides that sales are, but sales are probably making these strides because the prices are decreasing.  The average home price of $149,200 was 6 percent lower than in October 2008’s $158,500.  The median home price of $131,000 remained constant from last October.  It is the highest price this quarter, too.

Price distribution of El Paso home sales

November 10, 2009

Data from the first three quarters of 2009 have been released for the price distribution of home sales in El Paso, see table below.

El Paso
Price Range Percent Distribution # of Sales
2008 2009* 2008 2009* Change
$29,999 or less 0.1 0.3 4.78 11.45 139.64%
30,000 - 39,999 0.3 0.4 14.33 15.26 6.50%
40,000 - 49,999 0.6 0.5 28.66 19.08 -33.43%
50,000 - 59,999 1.2 1.4 57.31 53.41 -6.81%
60,000 - 69,999 1.7 2.5 81.19 95.38 17.47%
70,000 - 79,999 4.1 4.2 195.82 160.23 -18.17%
80,000 - 89,999 6.8 6 324.77 228.90 -29.52%
90,000 - 99,999 8.1 7.4 386.86 282.31 -27.02%
Under 100k 22.9 22.7 1093.70 866.01 -20.82%
100k - 119,999 15.8 18.2 754.61 694.33 -7.99%
120k - 139,999 15.5 16.1 740.28 614.22 -17.03%
140k - 159,999 10.3 11 491.93 419.65 -14.69%
100k - 160,000 41.6 45.3 1986.82 1728.20 -13.02%
160k - 179,999 8.8 7.8 420.29 297.57 -29.20%
180k - 199,999 5.7 5.7 272.23 217.46 -20.12%
200k - 249,999 9 9 429.84 343.35 -20.12%
250k - 299,999 5.1 4.2 243.58 160.23 -34.22%
300k - 399,999 4.3 3.2 205.37 122.08 -40.56%
400k - 499,999 1.4 1.1 66.86 41.97 -37.24%
500k and more 1.2 1.1 57.31 41.97 -26.78%

For now the percentages offer interesting speculation on trends.  The true comparison will only come once the last quarter’s data are received.  One emerging trend is the increase in moderately priced homes.  The homes priced between $100,000 and $119,999 has the highest distribution jump seen not only in El Paso’s 2009, but also across the state’s largest markets.  All the price categories from $100,000 to $160,000 show an increase.  Extremely low priced homes are also absorbing a larger part of the market share, but none of the categories jumped the previously discussed one.

Mixed result for August 2009: Sales Up, Prices Down

October 2, 2009

August 2009’s 485 home sales were 15 percent higher than August 2008’s 433 sales.  Although sales were 12 percent down from August 2007’s 554 sales, El Paso’s August managed to not only be the top sales month of the summer, but also the year.

Year Month Homes Sold One Year Change Two Year Change Average Price One Year Change Median Price One Year Change Active Listings One Year Change Months of Inventory
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748
2009 Aug 485 0.12 -0.12 150,100 -0.06 129,600 -0.03 3,681 -0.28 7.589
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

Prices were not as a positive.  The average home price of $150,100 was the lowest of the summer, and six percent lower than August 2008.  The median home price of $129,600 was 3 percent lower than August’s 2008 counterpart, and the lowest of the summer.  Although El Paso’s number of sales suggests a possible recovery, the low home prices might indicate people selling homes below the true worth to shed the financial responsibility.

El Paso struggles to meet 2008 sales numbers and prices

September 9, 2009

El Paso had 478 home sales in July 2009.  This is a 5 percent drop from July 2008’s 502 sales, and a 17 percent drop from July 2007’s 573 sales.  July had three less home sales than June 2009.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794
2009 Jul 478 -0.05 -0.17 157,100 -0.03 135,200 -0.02 3,704 -0.26 7.748

Home prices also declined in the market from one year ago.  The average home price continues a steady climb starting in May, which brings El Paso’s average price back to January 2009 levels; however, it does not bring El Paso back to July 2008 levels.  The average home price in July 2008 was $168,800, and in 2009 it was $157,100.  The median home price in July 2008 was $138,500, and in 2009 it was $135,200.  These are 3 and 2 percent drops, respectively.

No relief for June 2009 El Paso real estate market

July 31, 2009

El Paso gained 41 sales for June 2009’s 481 over May 2009’s 440 home sales; however, this is the first month in a quarter where the home sales were not a gain over the preceding year’s counterpart.  June 2009 sales were down 1 percent from June 2008’s 487 sales.  They were also down 21 percent from the 607 sales in June 2007.  This is the lowest loss for 2009.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954
2009 Jun 481 -0.01 -0.21 156,300 -0.07 134,500 -0.06 3,749 -0.27 7.794

The average and median home prices were also up from May 2009, but down from June 2008.  The average home price was $156,300, which is 7 percent lower than June 2008’s $168,800.  The median home price was $134,500 for June 2009, which is 6 percent lower than June 2008’s $142,800.

May sales up in El Paso, but prices down

June 28, 2009

El Paso’s real estate agents moved 440 homes during May 2009.  This is an increase of 3 percent over May 2008, which had 429 sales.  The increase is not as impressive when one considers there were 640 sales in May 2007, so there was really a 31 percent drop over the past two years, as seen in the following table.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
2009 May 440 0.03 -0.31 148,700 -0.09 126,800 -0.08 3,940 -0.24 8.954

Average and median are down from one year ago.  May 2009 had an average home price of $148,700, which was a 9 percent drop from May 2008’s $164,200.  The median price faired negligibly better, as May 2009’s $126,800 was only down 8 percent from its 2008 counterpart of $137,800.

El Paso had 3,940 active listings in May 2009.  This is almost a quarter lower than May 2008, which had 5,155 active listings.

El Paso Market Still Down for April

June 7, 2009

There were 381 sales in April for the El Paso real estate market. While we have been in a poor market the sales for April were dismal. Besides April 2008 the last time we had this few sales in April was 1998. The number of sales was down from March. This is not a good sign. Usually as you move into summer the number of sales should be increasing. When sales move in the opposite direction its never a good sign.

On the positive side average prices were up 2 percent compared to last year. We have been seeing an increase in the number of listings for the last year. This month marked a change. The number of listings was down 18 percent compared to last year.

But with the expection of a drop in the number of listings overall the El Paso real estate market is still a buyers market.

Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory
2007 Jan 492 142,500 124,800 2,554 5.191
2007 Feb 503 151,300 124,000 2,787 5.54
2007 Mar 612 155,100 129,200 1,272 2.078
2007 Apr 642 150,600 128,100 3,241 5.048
2007 May 640 152,400 130,200 3,159 4.935
2007 Jun 607 166,400 138,900 3,589 5.912
2007 Jul 573 160,200 134,200 3,791 6.616
2007 Aug 554 165,300 138,900 3,874 6.992
2007 Sep 409 156,500 136,000 4,024 9.838
2007 Oct 439 156,400 130,900 4,337 9.879
2007 Nov 387 166,200 133,600 4,292 11.09
2007 Dec 362 153,600 133,500 4,625 12.776
2008 Jan 299 -0.39 158,700 0.11 133,200 0.07 4,254 0.67 14.227
2008 Feb 328 -0.35 162,800 0.08 133,800 0.08 4,374 0.57 13.335
2008 Mar 419 -0.32 157,900 0.02 128,700 0 4,714 2.71 11.25
2008 Apr 292 -0.55 152,400 0.01 126,700 -0.01 4,840 0.49 16.575
2008 May 429 -0.33 164,200 0.08 137,800 0.06 5,155 0.63 12.016
2008 Jun 487 -0.2 168,800 0.01 142,800 0.03 5,127 0.43 10.527
2008 Jul 502 -0.12 161,700 0.01 138,500 0.03 5,012 0.32 9.984
2008 Aug 433 -0.22 160,500 -0.03 133,300 -0.04 5,085 0.31 11.743
2008 Sep 449 0.1 159,400 0.02 134,300 -0.01 5,096 0.27 11.349
2008 Oct 413 -0.06 158,500 0.01 130,500 0 5,040 0.16 12.203
2008 Nov 362 -0.06 156,100 -0.06 132,800 -0.01 4,773 0.11 13.185
2008 Dec 363 0 159,900 0.04 136,300 0.02 4,454 -0.04 12.269
2009 Jan 304 0.02 -0.38 157,700 -0.01 126,900 -0.05 4,499 0.06 14.799
2009 Feb 326 -0.01 -0.35 152,600 -0.06 130,900 -0.02 4,530 0.04 13.895
2009 Mar 435 0.04 -0.29 154,500 -0.02 133,500 0.04 4,578 -0.03 10.524
2009 Apr 381 0.3 -0.41 155,500 0.02 128,100 0.01 3,982 -0.18 10.451
Year Month House Sales 1 Yr Change 2 Yr Change Average Home Price % Price Change Median Home Price % 1 Yr Change Active Listings % 1 Yr Change Months of Inventory

El Paso sees increase in home sales from February and March ‘08

April 24, 2009

El Paso saw 425 home sales in March 2009.  This is a 1.4 percent increase from last March, and almost 100 homes over February 2009. March 2009 lost 30.6 percent of sales from March 2007.  Although as a snapshot, the 425 sales seem positive, when one takes a look at three years worth of data, it is clear El Paso will still need a lot more sales to be in recovery. 

 El Paso March 2009 Home Sales

 

 

 

 

 

 

 

 

 

 

 

The mean and median home prices are up over February 2009.  The average price for March 2009, was $154,500.  This was 2.2 percent lower than March 2008.  The median price was $133,500, which is $2600 more than February 2009, and 3.7 percent higher than March 2008.  

 

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